First Central Savings Bank

First Central Savings Bank Locations
70 Glen Street
Glen Cove, NY 11542
516-609-3500
www.firstcentralsavings.com
Since April 5th, 1999, First Central Savings Bank has grown from a simple concept to what they are today, a vibrant thriving community bank of which all can be proud. The Bank’s goal was and still is to fill a void in the big bank mentality, by providing good old-fashioned personal service with a smile, a throw-back to the days of hospitality and good manners that we were all raised on, something which almost does not exist anymore in banking.

First Central Savings Bank Routing Number: 026072973

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Competitive CD Rates at First Central Savings Bank in New York - Local Only - 4/1/2011

First Central Savings Bank is offering several competitive CD rates. The best are its long-term CD rates which include a 3.25% APY for 80 months, 3.10% APY for 6 years and 2.80% APY for 5 years. The s ...

3.00% 24-Month CD at First Central Savings in New York - 4/20/2009

First Central Savings is offering some competitive rates on its mid-term CDs. These include a 2.50% APY 12-month CD, a 2.75% APY 18-month CD and a 3.00% APY 24-month CD. The 6-month CD rate is a little less competitive, but it's still not too bad at...



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See Rates for: Checking | Savings | Money Market | CD

First Central Savings Bank Checking Account Rates

ApyMinMaxProduct
0.25%$500-NOW Checking
0.25%$300-Senior NOW Checking

First Central Savings Bank Savings Account Rates

ApyMinMaxProduct
0.75%$100k-Jumbo Passbook Savings
0.75%$100k-DaVinci Statement Savings
0.50%$250-Passbook Savings
0.50%$25-Young Savers
0.50%--Holiday Savings
0.50%$250-Business Passbook Savings
0.50%$250-Business Statement Savings
0.50%$250-Statement Savings
0.50%$75-Easy Savings Passbook
0.45%$50k-Magellan Statement Savings
0.35%$15k-Supreme Statement Savings

First Central Savings Bank Money Market Rates

ApyMinMaxProduct
0.85%$250k-Business Money Market Account
0.85%$250k-Money Market Account

First Central Savings Bank CD Rates

ApyMinMaxProduct
2.10%$500-84 Month CD
2.10%$500-Business 84 Month CD
2.05%$500-60 Month CD
2.05%$500-Business 60 Month CD
1.95%$500-72 Month CD
1.95%$500-Business 72 Month CD
1.80%$500-48 Month CD
1.80%$500-Business 48 Month CD
1.65%$500-36 Month CD
1.65%$500-Business 36 Month CD
1.26%$500-24 Month CD
1.26%$500-Business 24 Month CD
0.95%$500-18 Month CD
0.95%$500-Business 18 Month CD
0.75%$500-14 Month CD
0.75%$500-Business 14 Month CD
0.70%$500-12 Month CD
0.70%$500-Business 12 Month CD
0.60%$500-10 Month CD
0.60%$500-Business 10 Month CD
0.55%$500-9 Month CD
0.55%$500-Business 9 Month CD
0.40%$500-6 Month CD
0.40%$500-Business 6 Month CD
0.35%$500-3 Month CD
0.35%$500-Business 3 Month CD

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


First Central Savings Bank
FDIC Certificate #34969
BankRate ReportView
Year Established1999
Employees87
Primary RegulatorFDIC

Assets and Liabilities

Assets$596.26 million
Loans$445.22 million
Deposits$559.96 million
Equity Capital$25.21 million
Loan Loss Allowance$13.48 million
Unbacked Noncurrent Loans$34.22 million
Real Estate Owned$4.74 million

Historic Data - September 2010

Assets$628.53 million
Equity Capital$26.13 million
Loan Loss Allowance$15.39 million
Unbacked Noncurrent Loans$60.13 million
Real Estate Owned$6.95 million

Profit Margin - Quarterly

Net Interest Margin3.21%
Return on Assets-0.56%
Return on Equity-12.98%
Interest Income$22.78 million

Institution Health


Overall Score:
1 out of 5
1
Texas Ratio1
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 First Central Savings Bank had $38.96 million in non-current loans and owned real-estate with $38.69 million in equity and loan loss allowances on hand to cover it. This gives First Central Savings Bank a Texas Ratio of 100.70% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for First Central Savings Bank decreased slightly from 161.55% as of September 30, 2010 to 100.70% as of September 30, 2011, resulting in a positive change of 37.66%.This indicates that the balance sheet and financial strength for First Central Savings Bank has improved slightly in recent periods.
Deposit Growth1
In the past year, First Central Savings Bank has decreased its total deposits by -$30.82 million, resulting in -5.22% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Central Savings Bank has shown is poor.
Capitalization2
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Central Savings Bank has $596.26 million in assets with $38.69 million in equity, resulting in a capitalization level of 6.49%, which is below average.
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